
Housing Crash 2.0, The Rebalancing Act, A North-South Silk Road
Multipolarity
00:00
Isor Terracar on Chinese Economic History
Most people don't know that much about Chinese economic history, says Isor Terracar. In the 1990s, China didn't have many particularly good exports to the West. But because it's a state-directed system, it was quite easy for them to absorb that debt. They set up things called asset management companies - strangely named if you work in finance. And they basically were like the bad banks that we saw in 2008 and 2009. Some of it may end up being very constructive but I think there's going to be some spectacular bubble burst.
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